Brevan Howard Capital Management LP Acquires 82,976 Shares of Airbnb, Inc. $ABNB

by · The Cerbat Gem

Brevan Howard Capital Management LP boosted its holdings in Airbnb, Inc. (NASDAQ:ABNB – Free Report) by 420.1% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 102,726 shares of the company’s stock after acquiring an additional 82,976 shares during the quarter. Brevan Howard Capital Management LP’s holdings in Airbnb were worth $13,595,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in ABNB. Bamco Inc. NY raised its stake in shares of Airbnb by 272.0% in the second quarter. Bamco Inc. NY now owns 498,499 shares of the company’s stock worth $65,971,000 after purchasing an additional 364,499 shares during the last quarter. Adage Capital Partners GP L.L.C. grew its holdings in Airbnb by 21.7% during the second quarter. Adage Capital Partners GP L.L.C. now owns 318,400 shares of the company’s stock worth $42,137,000 after buying an additional 56,800 shares in the last quarter. ASK Capital Management LLC grew its holdings in Airbnb by 1.9% during the second quarter. ASK Capital Management LLC now owns 74,226 shares of the company’s stock worth $9,823,000 after buying an additional 1,359 shares in the last quarter. PDT Partners LLC grew its holdings in Airbnb by 4.0% during the second quarter. PDT Partners LLC now owns 77,250 shares of the company’s stock worth $10,223,000 after buying an additional 2,996 shares in the last quarter. Finally, Harris Associates L P raised its position in Airbnb by 43.2% in the 2nd quarter. Harris Associates L P now owns 14,237,331 shares of the company’s stock valued at $1,884,168,000 after buying an additional 4,292,383 shares during the last quarter. Institutional investors and hedge funds own 80.76% of the company’s stock.

Insider Buying and Selling

In related news, CTO Aristotle N. Balogh sold 650 shares of the company’s stock in a transaction that occurred on Friday, December 5th. The stock was sold at an average price of $120.92, for a total value of $78,598.00. Following the transaction, the chief technology officer owned 187,036 shares in the company, valued at approximately $22,616,393.12. This represents a 0.35% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Joseph Gebbia sold 58,000 shares of the stock in a transaction on Monday, December 1st. The shares were sold at an average price of $118.47, for a total value of $6,871,260.00. Following the transaction, the director directly owned 692,015 shares of the company’s stock, valued at approximately $81,983,017.05. This trade represents a 7.73% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 1,847,828 shares of company stock valued at $224,091,067. 27.91% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. Mizuho set a $156.00 price objective on shares of Airbnb in a report on Friday, November 7th. KeyCorp started coverage on shares of Airbnb in a research report on Thursday, October 23rd. They set a “sector weight” rating on the stock. Sanford C. Bernstein restated an “outperform” rating and set a $165.00 price target on shares of Airbnb in a report on Friday, November 7th. Wedbush reaffirmed a “neutral” rating and issued a $130.00 price objective on shares of Airbnb in a research report on Friday, November 7th. Finally, UBS Group increased their price objective on shares of Airbnb from $145.00 to $147.00 and gave the company a “neutral” rating in a research note on Friday, November 7th. Three equities research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, twenty-one have assigned a Hold rating and five have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $143.88.

Check Out Our Latest Stock Report on Airbnb

Airbnb Stock Performance

ABNB opened at $128.39 on Friday. Airbnb, Inc. has a fifty-two week low of $99.88 and a fifty-two week high of $163.93. The firm has a 50-day moving average of $121.99 and a 200 day moving average of $127.42. The firm has a market cap of $79.03 billion, a P/E ratio of 30.50, a PEG ratio of 2.25 and a beta of 1.11.

Airbnb (NASDAQ:ABNB – Get Free Report) last announced its quarterly earnings data on Thursday, November 6th. The company reported $2.21 EPS for the quarter, missing the consensus estimate of $2.31 by ($0.10). The company had revenue of $4.10 billion during the quarter, compared to the consensus estimate of $4.08 billion. Airbnb had a return on equity of 32.14% and a net margin of 22.03%.The business’s revenue was up 9.9% on a year-over-year basis. During the same period in the prior year, the firm posted $2.13 EPS. Equities research analysts predict that Airbnb, Inc. will post 4.31 earnings per share for the current fiscal year.

About Airbnb

(Free Report)

Airbnb, Inc, together with its subsidiaries, operates a platform that enables hosts to offer stays and experiences to guests worldwide. The company’s marketplace connects hosts and guests online or through mobile devices to book spaces and experiences. It primarily offers private rooms, primary homes, and vacation homes.

See Also